Most basic foodstuffs have an income elasticity of demand which is low or negative.

Name: Most basic foodstuffs have an income elasticity of demand which is low or negative.
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Basic foodstuffs typically have a low income elasticity of demand because they are essential goods. As people's income increases, the proportion of income spent on these goods does not increase significantly, and in some cases, it might even decrease, indicating a low or negative elasticity.

Most Basic Foodstuffs Have an Income Elasticity of Demand Which